Knightsbridge Asset Management Lifted Bank Amer (BAC) Stake by $1.56 Million as Shares Declined; As Verizon Communications Com (VZ) Share Value Declined, Shareholder Vision Capital Management Decreased Its Holding by $983,430

January 17, 2018 - By Adrian Erickson

Knightsbridge Asset Management Llc increased its stake in Bank Amer Corp (BAC) by 19.55% based on its latest 2017Q3 regulatory filing with the SEC. Knightsbridge Asset Management Llc bought 62,487 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 382,153 shares of the major banks company at the end of 2017Q3, valued at $9.68 million, up from 319,666 at the end of the previous reported quarter. Knightsbridge Asset Management Llc who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $325.23B market cap company. The stock decreased 0.19% or $0.06 during the last trading session, reaching $31.18. About 117.14 million shares traded or 72.97% up from the average. Bank of America Corporation (NYSE:BAC) has risen 58.64% since January 17, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

Vision Capital Management Inc decreased its stake in Verizon Communications Inc Com (VZ) by 17.3% based on its latest 2017Q3 regulatory filing with the SEC. Vision Capital Management Inc sold 20,070 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 95,940 shares of the telecommunications equipment company at the end of 2017Q3, valued at $4.75M, down from 116,010 at the end of the previous reported quarter. Vision Capital Management Inc who had been investing in Verizon Communications Inc Com for a number of months, seems to be less bullish one the $211.03B market cap company. The stock increased 0.14% or $0.07 during the last trading session, reaching $51.73. About 9.62M shares traded. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since January 17, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Knightsbridge Asset Management Llc, which manages about $398.58M and $143.83M US Long portfolio, decreased its stake in Apple Inc (NASDAQ:AAPL) by 18,258 shares to 48,730 shares, valued at $7.51M in 2017Q3, according to the filing.

Since August 10, 2017, it had 0 insider purchases, and 1 sale for $2.10 million activity.

Among 32 analysts covering Bank of America (NYSE:BAC), 21 have Buy rating, 0 Sell and 11 Hold. Therefore 66% are positive. Bank of America had 103 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by RBC Capital Markets on Friday, October 13. The company was maintained on Tuesday, October 3 by Keefe Bruyette & Woods. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Deutsche Bank on Wednesday, August 12. On Wednesday, January 11 the stock rating was maintained by Citigroup with “Buy”. As per Friday, October 6, the company rating was maintained by RBC Capital Markets. On Sunday, August 13 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Nomura on Monday, October 16. The company was maintained on Wednesday, April 5 by RBC Capital Markets. Guggenheim downgraded the stock to “Neutral” rating in Tuesday, November 15 report. The rating was upgraded by Macquarie Research to “Outperform” on Thursday, February 16.

Investors sentiment decreased to 1.04 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2. It worsened, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. 89,877 are held by Dreman Value Mngmt L L C. The California-based Wealth Architects Ltd Liability Corp has invested 0.24% in Bank of America Corporation (NYSE:BAC). Hyman Charles D invested in 63,254 shares. Sg Americas Secs Limited Com holds 635,739 shares or 0.14% of its portfolio. Timucuan Asset Incorporated Fl has 11,015 shares. Acadian Asset Mngmt Lc owns 184,952 shares or 0.02% of their US portfolio. Cohen Klingenstein Ltd Liability has 0.71% invested in Bank of America Corporation (NYSE:BAC). Gvo Asset Mngmt holds 7.08% or 1.36M shares in its portfolio. Atlas Browninc accumulated 0.06% or 11,012 shares. Mckinley Capital Management Limited Liability Delaware stated it has 1.76M shares. Pax Ww Ltd Co owns 823,740 shares. Suntrust Banks Inc reported 3.67M shares. Cim Investment Mangement reported 0.53% stake. Ray Gerald L & Associates Limited invested 1.42% in Bank of America Corporation (NYSE:BAC). Prelude Mgmt Limited Liability Com accumulated 56,690 shares or 0.13% of the stock.

Among 26 analysts covering Verizon Communications Inc. (NYSE:VZ), 6 have Buy rating, 0 Sell and 20 Hold. Therefore 23% are positive. Verizon Communications Inc. had 64 analyst reports since July 22, 2015 according to SRatingsIntel. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Tuesday, January 2. The firm has “Neutral” rating by Citigroup given on Monday, March 14. The rating was maintained by Barclays Capital with “Equal Weight” on Thursday, April 13. The stock of Verizon Communications Inc. (NYSE:VZ) has “Buy” rating given on Thursday, January 19 by HSBC. RBC Capital Markets downgraded Verizon Communications Inc. (NYSE:VZ) rating on Wednesday, January 25. RBC Capital Markets has “Sector Perform” rating and $51 target. The rating was downgraded by Wells Fargo to “Market Perform” on Monday, January 23. On Wednesday, July 20 the stock rating was downgraded by Oppenheimer to “Perform”. The firm has “Hold” rating given on Thursday, August 10 by Oppenheimer. On Thursday, February 4 the stock rating was initiated by DA Davidson with “Neutral”. RBC Capital Markets maintained it with “Outperform” rating and $48 target in Wednesday, September 30 report.

Since August 28, 2017, it had 0 buys, and 3 insider sales for $89,365 activity.

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